NAIROBI (Reuters) - Kenya's Mumias Sugar warned its full-year pretax profits would tumble by at least a quarter after drought hurt cane output and earnings in the first six months of the financial year, it said on Wednesday.
Mumias, whose shares are some of the most frequently traded at the Nairobi bourse, also said that lower sugar prices had also stunted revenues in the first-half ended December.
"The outlook for the second half of the year is stronger and we expect improved profitability," Mumias said in a statement.
Mumias recorded pretax profits 1.76 billion shillings last financial year.
It is the biggest grower and miller of the sweetener in east Africa's largest economy.
Source: http://news.yahoo.com/kenyas-mumias-sugar-issues-profit-warning-150815793--finance.html
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